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09:59
FCEL: FuelCell Energy: News on order, approvals and partners will act as a positive catalyst - Janney Montgomery (2.26 -0.09)

Janney Montgomery notes that after attending FCEL's shareholder meeting late last week, the firm believes news on orders, approvals, and partners will act as positive catalysts for the stock over the next two months. The firm notes that the stock has been drifting down as its major projects have been awaiting approval, but they expect this to end. First, FCEL has been working on an order for 25+ MW from POSCO Power, and the co expects it to be signed in April. The co has also been working with Connecticut on finalizing Round 2 orders for 16 MW, which the firm understands are in the final stages of negotiation. The firm also expects Connecticut Round 3 to be approved by the CPUC on April 1st, most likely for 27 MW. The 68+ MW in the pipeline would be more than double the co's current production rate of 30 MW a year.